Add-on Acquisition • Internet Software and Services

Cross River Bank Acquires Betterfin

On November 2, 2021, Cross River Bank acquired internet software and services company Betterfin

Acquisition Context
  • This is Cross River Bank’s 1st transaction in the Internet Software and Services sector.
  • This is Cross River Bank’s 2nd transaction in the United States.
  • This is Cross River Bank’s 1st transaction in New York.

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M&A Deal Summary

Date November 2, 2021
Target Betterfin
Sector Internet Software and Services
Buyer(s) Cross River Bank
Deal Type Add-on Acquisition

Target Company

Betterfin

Brooklyn, New York, United States
Betterfin is a transformative financial platform that enables small business owners to access a wide range of financial products and solutions, capital markets data, and manage their own lending and cash flow processes. Betterfin was founded in 2017 and is based in Brooklyn, New York.
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Buyer Overview 1

Buyer

Cross River Bank

Fort Lee, New Jersey, United States

Category Company
Sector Internet Software and Services
DESCRIPTION

Cross River Bank is a provider of API-based banking platform and comprehensive suite of products encompassing lending, payments, risk management and Banking-as-a-Service (BaaS) offerings to deliver responsible financial solutions that empower businesses and consumers anytime, anywhere. Cross River Bank was founded in 2008 and is based in Fort Lee, New Jersey.


Deal Context for Buyer #
Overall 2 of 2
Sector: Internet Software and Services 1 of 1
Type: Add-on Acquisition 2 of 2
State: New York 1 of 1
Country: United States 2 of 2
Year: 2021 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-23 PeerIQ

Fort Lee, New Jersey, United States

PeerIQ is a preeminent data and risk analytics firm that helps institutions analyze, assess and manage risk in the lending sector, as an affiliate of the New Jersey state-chartered FDIC-insured bank. PeerIQ is based in Fort Lee, New Jersey.

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